Increased Earnings Estimates Seen for Forestar (FOR): Can It Move Higher?

Forestar Group Inc. FOR is a real estate, and oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FOR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Forestar could be a solid choice for investors.

Current Quarter Estimates for FOR

In the past 30 days, 1 estimate has gone higher for Forestar while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 13 cents a share 30 days ago, to $1.07 today, a significant increase.

Current Year Estimates for FOR

Meanwhile, Forestar’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 32 cents per share 30 days ago to $1.62 per share today, a significant increase.

The stock has also started to move higher lately, adding 15.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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